FOR ADDITIONAL INFORMATION (Form 8-K)

FOR ADDITIONAL INFORMATION

Media Investors

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NiSource announces full-year 2025 results

•Achieved 2025 non-GAAP adjusted EPS above guidance range

•Exceeded 2025 non-GAAP FFO/Debt guidance range

•Reaffirming 2026 non-GAAP consolidated adjusted EPS guidance

•Reaffirming 2026-2033 consolidated non-GAAP adjusted EPS compound annual growth rate of 8%-9%

MERRILLVILLE, Ind. - NiSource Inc. (NYSE: NI) today announced, on a GAAP basis, net income available to common shareholders for the year ended December 31, 2025 of $929.5 million, or $1.95 of earnings per diluted share, compared to net income available to common shareholders of $739.7 million, or $1.62 of earnings per diluted share, for the year ended December 31, 2024.

NiSource also reported full-year 2025 non-GAAP adjusted net income available to common shareholders of $905.2 million, or $1.90 of adjusted EPS, compared to non-GAAP adjusted net income available to common shareholders of $798.6 million, or $1.75 of adjusted EPS, for the year ended December 31, 2024. Schedule 1 of this press release contains a complete reconciliation of GAAP measures to non-GAAP measures. **

NiSource is reaffirming its 2026 non-GAAP consolidated adjusted EPS guidance of $2.02-$2.07. The company expects to invest approximately $28.0 billion from 2026-2030 under its consolidated capital plan, which includes utility system modernization initiatives and nearly $7.0 billion in strategic data center infrastructure investments. This consolidated investment plan is expected to support an anticipated compound annual growth rate (CAGR) with respect to non-GAAP consolidated adjusted EPS of 8%-9% and consolidated rate base growth of 9%-11% from 2026 through 2033.

"We closed 2025 with significant momentum, delivering on our commitments and advancing a diversified portfolio that spans natural gas, electric, renewables, and a transformative data center project," said NiSource President and CEO Lloyd Yates. "It's been a strong year, highlighted by delivering a landmark data center agreement with Amazon and a novel solution that flows back more than $1 billion in savings to retail customers in a differentiated and impactful way. This approach ensures affordability remains top of mind as we continue driving disciplined O&M performance and leveraging technology to improve efficiency."

"Our pipeline of opportunities remains robust, positioning us for continued growth. With major infrastructure investments underway and an innovative agreement in place, we're building a resilient, future-ready grid that supports economic development across our footprint. I want to thank our employees and partners for their dedication-together, we're driving sustainable value for customers and shareholders."

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**Non-GAAP Disclosure Statement